On Friday the American indices managed to rise. Today all three of them are going up even more. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 rose significantly on Friday. The price finished the last session of the week slightly above the R1 resistance level and 3770. Today it is going up even more. Right now the bulls are attacking the EMA 200. If they do it successfully, the price might even rise above 3800. But if they fail, the price could drop below 3770 and reach the Pivot Point.
NASDAQ 100
NASDAQ 100 also rose significantly on Friday. The price finished the last session of the week slightly below the R1 resistance level, a little above 10870. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above 11000 and reach the EMA 200 and today’s R1. But if the bears counterattack, the price could drop below 10850 and reach the Pivot Point.
Dow Jones Industrial Average
The DJIA index rose significantly on Friday as well. The price finished the last session of the week high above the R1 resistance level and the EMA 200, a little above 32370. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above 32600. But if the bears counterattack, the price could drop below 32300 and reach the EMA 200 and the Pivot Point.
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